Theta Token/U.S. dollar(THETAUSD) Elliott Wave Technical Analysis 10 November 23

[tradinglounge]

Elliott Wave Analysis TradingLounge Daily Chart,  10 November 23, 
Theta Token/U.S. dollar(THETAUSD)
THETAUSD Elliott Wave Technical Analysis 
Function: Follow trend    
Mode: Motive
Structure: Diagonal 
Position: Wave V
Direction Next higher Degrees: wave (C) of Zigzag
Wave Cancel invalid Level: 
Details: Wave V maybe complete and five-wave rise will support idea.

Theta Token/U.S. dollar(THETAUSD)Trading Strategy: It looks like the correction is likely to end after the price recovered well from the 0.562 level, combined with Bullish Divergence signals, Theta Token is likely to reverse. We ourselves are looking at a five-wave increase to help support this idea.

Theta Token/U.S. dollar(THETAUSD)Technical Indicators: The price is above the MA200 indicating an uptrend,  RSI is a Bullish  Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA





Elliott Wave Analysis TradingLounge 4H Chart, 10 November 23,  
Theta Token/U.S. dollar(THETAUSD)
THETAUSD Elliott Wave Technical Analysis 
Function: Follow trend    
Mode: Motive
Structure: Impulse
Position: Wave 4
Direction Next higher Degrees: wave 4 of Impulse
Wave Cancel invalid Level: 
Details: the corrective of wave 4 before rise again in wave 5.

Theta Token/U.S. dollar(THETAUSD)Trading Strategy: The price structure is still in an uptrend. As the price is still above the MA200 line, we expect it to increase in wave 3 before correcting in wave 4 and rising again in wave 5.

Theta Token/U.S. dollar(THETAUSD)Technical Indicators: The price is above the MA200 indicating an uptrend,  RSI is a Bullish  Momentum.

 

[blazely]

Theta is ready for the next move-up. There are clean highs where there will be sell stops for the whales to take some profit. So I'd wait for a retracement then use my smart trend to long theta